Federal Incentives

There's been so much talk around here lately about the PA Sunshine Program that we thought we should remind everyone about the Federal Government's support for solar.

Here are our top tips for taking advantage of Federal Incentives:

1. Don't believe your CPA when he/she tells you that the Federal ITC is capped at $2K...

The Federal Tax Credit of 30% for Residential Solar PV installations was UNCAPPED at the end of 2008. It is not at all rare for the IRS not to put out new forms until partway through the year. Therefore, the 2008 form that shows a $2000 cap on the residential ITC for solar projects (Form 5695) is still floating around...HOWEVER, the truth is that the Federal ITC is 30% and uncapped, effective 2009, and extended thru end of 2016. You can find this notation in the "What's New for 2009" section in the notes on the 2008 Form 5695.

Your CPA still doesn't believe you? Call SunPower, we are here to help.

2. Commercial Project? Go for the ITC Cash Grant!

The Stimulus Bill created an additional incentive for commercial projects that are put in service in 2009 - 2010: you can take the Federal ITC as a Cash Grant!

Treasury will administer the solar grant program and is required to pay out each solar grant within 60 days of the receipt of each application [Section 1603]. The solar grant is not subject to federal taxes [Section 1104].

This is a very informative link about the program: http://www.sunwize.com/commercial/business-solar-grant.php

What's next? Let's hear it for some MEANINGFUL climate change legislation!

Ontario, Canada has just implemented a feed-in tariff and we can't get PA House Bill 80 out of committee...stay tuned for legislative alerts to call your reps!